What Information You Need to Get a Home Loan: The 7-Step Mortgage Readiness Guide

Are you thinking about buying a home, but unsure what documents or steps are involved in the mortgage process?

Whether you're a first-time buyer, moving up, or refinancing, getting your paperwork in order early can save you stress, money, and time. At First Capital Mortgage Inc., we've helped thousands of people like you prepare and close with confidence.

Here's our proven 7-step checklist to get your loan into underwriting fast and frustration-free.

📌 1. Personal Information

We'll need your full legal name, birthdate, Social Security number, and two years of residence history.
Also include the best phone and email for consistent communication.

🏠 2. Residence History

Whether you own or rent, this info helps confirm housing expenses and background.

Renters: Provide name, phone, and address of landlords (past 12 months)
Homeowners: Submit your mortgage statement OR your home insurance declarations page if you own it free and clear

💵 3. Money / Funds to Close

This part is crucial - and often where delays happen. Be ready to show us:

All pages of your most recent bank statements (with your name, address, and account #)
Closing statement from any home you sold in the past 6 months
Gift funds? We'll provide a simple gift letter form, and we need a bank statement from the donor

🔐 Pro Tip: Large, unexplained cash deposits can hurt your approval chances. Let's plan ahead so we can document everything properly.

💼 4. Income & Tax Documents

Depending on how you’re paid, here’s what we need:

Employees: Last 30 days of pay stubs + 2 years of W-2s
Self-Employed or Rental Income: 2 years of complete personal tax returns
Own 25%+ of a business? Send 2 years of business tax returns
Retired? Social Security Award letter and pension/retirement income documents

🧑‍💼 5. Employment History (Past 2 Years)

If you've had job changes or employment gaps, it's okay, but we'll need an explanation.
Please also share HR contact info so we can verify your employment when needed.

🏡 6. Homeowners Insurance

Send us your insurance quote for the new home. If you do not have an insurance agent, start with your car insurance company.
If you’re refinancing, we can use your current policy. Need a great referral? Just ask - we've got trusted partners ready to help.

⚖️ 7. Legal Documents

If these apply, have them ready:

Divorce decree
Child support or alimony documents
Bankruptcy papers

They help us fully understand your financial picture.

📋 Quick Mortgage "Do's & Don'ts"

Do:

Send documents quickly - it protects your interest rate lock
Communicate by email for recordkeeping
Budget around $600 for appraisal (paid by card upfront)
Make sure both spouses are available for signing if married

Don't:

Apply for new credit
Make large unexplained cash deposits
Go on vacation during your loan process
Delay sharing updates - always keep us in the loop!

🔒 Ready to Get Started?

Start TODAY. Find your home tomorrow. 👉 Start Here

Or schedule a call to answer your questions and get ready to buy a home:
📅 Have an Initial Conversation with Steve

🙋‍♂️ One More Thing…

If any of your friends, family, or co-workers are looking to buy, sell, or refinance, can I count on you to introduce us via text or email? A warm introduction means everything, and I'll treat them like gold.

Make it a Successful Week,
Steve McNeal, First Capital Mortgage Inc.
Serving CA & TN
📞 209-522-7100